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Real Estate
Democracy comes to SOHO?Posted by Jeremy Goldkorn on Tuesday, April 27, 2010 at 2:43 PM
Jianwai SOHO, the second residential and commercial apartment complex built in Beijing by the real estate company SOHO China, is a massive compound of formerly white glass-and-concrete towers now looking rather worse for the wear. The last year or so has also seen increasingly bitter disagreements between the residents and tenants of the complex, the property management company and even the local electricity bureau. In November 2009, The China Daily reported that "Power could be cut to more than 1,400 units in the Jian Wai SOHO complex following an unpaid electricity bill totalling 7.6 million yuan ($1.1 million)". The money was owed to Beijing's power supplier by Pinnacle Realty Management International, who said that "many owners and tenants had not paid their management fees for three months" The China Daily reported that about 70 percent of proprietors were unwilling to pay management fees "because of a conflict with Pinnacle and Scitech International Property Management Co Ltd, the former property manager". The story is even more tangled:
Today's China Daily has an update:
A foreign businessman whose offices are in Jianwai SOHO contacted by Danwei said that the details of the many disputes going on were "very complicated" and complained that the management company was poorly run. It remains to be seen whether the newly elected residents committee can make any progress. Links and Sources
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